Early life

Hicks was born in 1904 in Warwick, England, and was the son of Dorothy Catherine (Stephens) and Edward Hicks, a journalist at a local newspaper.[2]

He was educated at Clifton College (1917–1922)[3] and at Balliol College, Oxford (1922–1926), and was financed by mathematical scholarships. During his school days and in his first year at Oxford, he specialised in mathematics but also had interests in literature and history. In 1923, he moved to Philosophy, Politics and Economics, the "new school" that was just being started at Oxford. He graduated with second-class honors and, as he stated, "no adequate qualification in any of the subjects" that he had studied.[4]

From 1935 to 1938, he lectured at Cambridge where he was also a fellow of Gonville & Caius College. He was occupied mainly in writing Value and Capital, which was based on his earlier work in London. From 1938 to 1946, he was Professor at the University of Manchester. There, he did his main work on welfare economics, with its application to social accounting.

His magnum opus is Value and Capital published in 1939. The book built on ordinal utility and mainstreamed the now-standard distinction between the substitution effect and the income effect for an individual in demand theory for the 2-good case. It generalised the analysis to the case of one good and a composite good, that is, all other goods. It aggregated individuals and businesses through demand and supply across the economy. It anticipated the aggregation problem, most acutely for the stock of capital goods. It introduced general equilibrium theory to an English-speaking audience, refined the theory for dynamic analysis, and for the first time attempted a rigorous statement of stability conditions for general equilibrium. In the course of analysis Hicks formalised comparative statics. In the same year, he also developed the famous "compensation" criterion called Kaldor–Hicks efficiency for welfare comparisons of alternative public policies or economic states.

Contributions to interpretation of income for accounting purposes

Hicks's influential discourse on income sets the basis for its subjectivity but relevancy for accounting purposes. He aptly summarized it as follows. “The purpose of income calculations in practical affairs is to give people an indication of the amount they can consume without impoverishing themselves”.[9]

Formally, he defined income precisely in three measures:

Hicks's number 1 measure of income: “the maximum amount, which can be spent during a period if there is to be an expectation of maintaining intact the capital value of prospective receipts (in money terms)” (Hicks, 1946, p. 173)[10]

Hicks's number 2 measure of income (market price-neutral): "the maximum amount the individual can spend during a week, and still expect to be able to spend the same amount in each ensuing week” (Hicks, 1946, p. 174).[10]

Hicks's number 3 measure of income (takes into account market prices): “the maximum amount of money which an individual can spend this week, and still expect to be able to spend the same amount in real terms in each ensuing week” (Hicks, 1946, p. 174)[10]

After the Morning is the debut release by American pianist John Hicks recorded in 1979 and released on the West 54 label. Two earlier sessions led by Hicks were released on Strata-East Records following this album.

In Concert is a live album by American jazz pianist John Hicks recorded in 1984 at various locations around San Francisco and released on the Theresa label in 1986. The 1993 Evidence CD reissue added two bonus tracks.

John Charles Hicks Jr. (March 21, 1951 – October 29, 2016) was an American football offensive lineman in the National Football League. He is best remembered for being the last lineman to be runner-up in the vote for the Heisman Trophy.

John Josephus Hicks, Jr. (December 21, 1941 – May 10, 2006) was an American jazz pianist, composer, and arranger. He was leader for more than 30 recordings and played as a sideman on more than 300.After early experiences backing blues musicians, Hicks moved to New York in 1963. He was part of Art Blakey's band for two years, then backed vocalist Betty Carter from 1965 to 1967, before joining Woody Herman's big band, where he stayed until 1970. Following these largely mainstream jazz experiences, Hicks expanded into freer bands, including those of trumpeters Charles Tolliver and Lester Bowie. He rejoined Carter in 1975; the five-year stay brought him more attention and helped to launch his recording career as a leader. He continued to play and record extensively in the United States and internationally. Under his own leadership, his recordings were mostly bebop-influenced, while those for other leaders continued to be in a diversity of styles, including multi-year associations with saxophonists Arthur Blythe, David Murray, David "Fathead" Newman, and Pharoah Sanders.

Steadfast is one of two albums recorded by American jazz pianist John Hicks during his first studio session as leader in 1975. It was ultimately released on the Strata-East and Bellaphon Records labels in 1991.

Two of a Kind is an album by American jazz pianist John Hicks and bassist Ray Drummond recorded in 1986 and 1987 and released on the Theresa label. The 1992 Evidence CD reissue added three bonus tracks.

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